Page 3 - Zee Group

NCLAT refuses to stay Zee-Sony merger, case to be heard on January 8

Tribunal agrees to hear appeal against it on Jan 8

Zee-Sony merger: IDBI Trusteeship files appeal against Chandra at NCLAT

The appeal challenges the National Company Law Tribunal (NCLT) Mumbai order rejecting IDBI trusteeship's objection to the merger

Zee5 Global aims to double US subscriber base to 2 million in one year

Over The Top (OTT) content platform Zee5 Global is aiming to double its active subscriber base to 2 million in a year, a top official has said. The platform has witnessed a growing appetite for Indian films like 'The Kashmir Files' by the more discerning diasporic audience, its Chief Business Officer Archana Anand told PTI. The controversial film directed by Vivek Agnihotri has taken the engagement on the platform through the roof, she said, adding that the Telugu hit RRR also helped, with users organising watch parties for their non-South Asian friends. Asked for reasons why the audience loves content like the one in 'The Kashmir Files', termed as propaganda by some, Anand said there is "strong nationalistic feeling" among the diaspora, and added that the story of disenfranchised people makes a connect with the audiences. Zee5 Global launched add-ons in the US, wherein it will be partnering with at least a dozen platforms focused on serving south Asian audiences to offer a wider .

Zee-Sony India merger talks stall over disagreement on leadership: Report

A failure to reach an agreement on leadership by December 21 may derail the merger, a news report said.

Zee-Sony merger: NCLAT chairperson-led bench to hear appeals by Axis, IDBI

Appeals filed by Axis Finance and IDBI Bank against the merger of Zee Entertainment and Culver Max Entertainment, formerly Sony Pictures Networks India, before the appellate tribunal NCLAT, would now be heard by a bench presided by its chairperson. On Tuesday, the petitions filed by Axis Finance and IDBI Bank came up for hearing before a bench comprising Justices Anant Bijay Singh and Arun Baroka. However, it transferred both the petitions to the chairperson's bench. The bench opined that since the chairperson-led bench is already hearing an insolvency appeal filed by IDBI Bank against Zee Entertainment Enterprises Limited (ZEEL), it would be appropriate for the same bench to hear these petitions also. Earlier, both the petitions were listed before an NCLAT bench comprising Justices Rakesh Kumar and Alok Srivastava. Justice Rakesh Kumar resigned on Monday following contempt of court proceedings initiated against him by the Supreme Court in the Finolex matter. After this, the petit

Zee-Sony case: NCLAT defers hearing over IDBI, Axis Finance plea to Oct 31

The NCLAT on Friday adjourned the hearing to October 31 on pleas filed by IDBI Bank and Axis Finance against the merger of Zee Entertainment Enterprise with Culver Max Entertainment, formerly Sony Pictures Networks India. The National Company Law Appellate Tribunal (NCLAT) did not issue notice over the petitions filed by the private lender and the non-banking financial company (NBFC). However, it said that Zee Entertainment Enterprise Ltd (ZEEL) may file a response to both petitions, if needed. Both have challenged the August 10, 2023, order of the Mumbai bench of the National Company Law Tribunal (NCLT) to approve the merger. Earlier, the NCLT on August 10, 2023, approved the proposed merger, which would create the largest media entity in the country. While approving the merger, the NCLT in its order, dismissed some applications moved by financial institutions opposing the move, including IDBI Trusteeship, IDBI Bank, Axis Finance, JC Flowers Asset Reconstruction Co and Imax ...

Zee-Sony merger: NCLAT adjourns hearing over Axis Finance plea to Friday

The National Company Law Appellate Tribunal (NCLAT) on Thursday adjourned the hearing to October 13 on a plea filed by Axis Finance against the merger of Zee Entertainment Enterprise Ltd (ZEEL) with Culver Max Entertainment, formerly Sony Pictures Networks India. The appellate tribunal on Friday will hear another plea filed by private lender IDBI Bank, which has also challenged the August 10, 2023, order of the Mumbai bench of the National Company Law Tribunal (NCLT) approving the merger. Counsel appearing for Axis Finance requested the tribunal to adjourn the matter to Friday when it will hear the same petition filed by IDBI Bank. During the proceedings, senior advocates Mukul Rohatgi and Arun Kathpalia - both representing ZEEL questioned the locus standi of Axis Finance to file such a petition and opposed passing any order. They also objected to the adjournment as IDBI's case arose out of a different set of facts, however, the appellate tribunal deferred the hearing of the case .

Movie success offsets ad revenue slip for broadcasters like ZEE, Sun TV

Advertising revenue, however, fails to translate into real action despite optimism

Zee Entertainment merger expected in 'months ahead': Sony Group

The transaction was initially expected to be closed by the end of September

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Big brand theories from India

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Amidst legal challenges, Zee-Sony merger could be completed by December

ZEEL had a harrowing time at the courts last week, with SAT adjourning the matter concerning the ban on Zee promoter Punit Goenka by Sebi to September 27

Securities Appellate Tribunal defers Zee-Sebi matter to September 13

The confirmatory order passed by Sebi chief Madhabi Puri Buch barred Goenka from holding any key managerial positions in the Zee group of companies

SAT refuses to give interim relief to Punit Goenka, lists matter for Sep 8

The Securities Appellate Tribunal (SAT) has refused to give interim relief to Punit Goenka, former chief of Zee Entertainment Enterprises Ltd, against a Sebi order that barred him from holding key positions in four Zee group firms and in the merged entity of ZEEL and Sony Pictures Networks India. "After hearing the learned senior counsel for the parties at some length, we are of the opinion that the matter has to be decided finally. We, consequently, direct the respondent (Sebi) to file a reply by Monday, September 4, 2023," the bench of Presiding Officer Justice Tarun Agarwala and Technical Member Meera Swarup said in their order passed on Wednesday. The matter will be listed for final disposal on September 8, the appellate tribunal said in its order uploaded on its website on Thursday. Goenka moved SAT last week challenging capital markets regulator Sebi's confirmatory order passed on August 14. In its order, Sebi restrained Goenka and his father Subhash Chandra from holding the

Street Signs: Bearish momentum may continue, the Zee-Sony trade & more

Analysts also do not rule out a range-bound movement and consolidation around current levels until a definitive breakthrough occurs on either side

NCLT's nod to ZEE-Sony India merger will trigger stock re-rating: Analysts

Shares of Zee Entertainment Enterprises soared as much as 20 per cent on the BSE in Thursday's intra-day trade after the National Company Law Tribunal approved the company's merger with Sony India

SAT to hear Sebi's appeal for modification in Zee order on July 27

Sebi, in its appeal, has asked for the modification on the direction for appointing a different WTM

Zee Entertainment forms interim committee to run operations; shares up 6.3%

SAT directed SEBI to pass a final order by the middle of next month and asked Chandra and Goenka to defend themselves before the regulator

Zee, IndusInd settle dues; NCLAT disposes of NCLT insolvency order

The appellate tribunal also told both parties to pay their dues to the Interim Resolution Professional

Sebi penalises promoter entity of ZEEL for certain disclosure lapses

Sebi has penalised Cyquator Media Services, a promoter entity of ZEE Entertainment Enterprises Ltd (ZEEL), for certain disclosure lapses. A fine of Rs 4 lakh has been imposed on Cyquator for failing to make adequate disclosures regarding certain trades in shares of ZEEL. The regulator had conducted an examination of trading in ZEEL shares by the entity to ascertain any possible violations of insider trading norms during the period from January 1 to December 26, 2019. "It was observed that the noticee (Cyquator Media Services) being a promoter has made delayed disclosure with respect to creation of pledge and also failed/made delayed disclosures w.r.t. invocation and sale of pledge to ZEEL and exchanges," Sebi said in an order passed on Friday. A show cause notice was issued to the noticee, which submitted its reply. The noticee contended that failure to make disclosures within the stipulated time, was unintentional, technical or inadvertent and that no gain or unfair advantage has